CocaCola Company (The) (NYSE:KO) Shares Sold by Sienna Gestion

Key Points

• Sienna Gestion reduced its stake in CocaCola by 6.1% during the first quarter, now holding 80,866 shares valued at approximately $5.63 million.
• CocaCola's recent quarterly earnings beat expectations, reporting $0.87 EPS against a consensus estimate of $0.83, with revenue of $12.50 billion.
• The company declared a quarterly dividend of $0.51, representing a 2.9% yield, with the payment set for October 1st.

Sienna Gestion lessened its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 6.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,866 shares of the company's stock after selling 5,278 shares during the quarter. Sienna Gestion's holdings in CocaCola were worth $5,630,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its stake in shares of CocaCola by 13.3% during the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock worth $2,433,000 after acquiring an additional 4,591 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of CocaCola by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock worth $548,000 after acquiring an additional 293 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its stake in shares of CocaCola by 12.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock worth $1,189,000 after acquiring an additional 2,072 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of CocaCola by 59.6% during the 4th quarter. Renaissance Technologies LLC now owns 5,013 shares of the company's stock worth $310,000 after acquiring an additional 1,873 shares in the last quarter. Finally, Acorns Advisers LLC boosted its stake in shares of CocaCola by 18.5% during the 4th quarter. Acorns Advisers LLC now owns 7,484 shares of the company's stock worth $466,000 after acquiring an additional 1,171 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

CocaCola Trading Down 0.4%

KO stock opened at $70.46 on Thursday. The company has a market cap of $303.24 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 3.68 and a beta of 0.44. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The business has a fifty day simple moving average of $70.08 and a 200-day simple moving average of $70.02. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.04. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. The firm had revenue of $12.50 billion during the quarter, compared to the consensus estimate of $12.55 billion. During the same period in the prior year, the firm earned $0.84 EPS. The firm's quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, September 15th. CocaCola's dividend payout ratio is currently 72.34%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the stock an "outperform" rating in a research note on Monday, July 21st. UBS Group cut their price target on CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their price target on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Morgan Stanley reiterated an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. Finally, BNP Paribas reiterated an "outperform" rating and issued a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, CocaCola currently has an average rating of "Buy" and an average target price of $77.21.

Insider Buying and Selling at CocaCola

In related news, CEO James Quincey sold 266,403 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the sale, the chief executive officer directly owned 275,946 shares in the company, valued at approximately $19,884,668.76. This represents a 49.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the completion of the sale, the insider owned 209,513 shares of the company's stock, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by corporate insiders.

About CocaCola

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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